24 C.F.R. § 982.626 Homeownership option: Initial requirements.
Title 24 - Housing and Urban Development
(a) List of initial requirements. Before commencing homeownership assistance for a family, the PHA must determine that all of the following initial requirements have been satisfied: (1) The family is qualified to receive homeownership assistance (see §982.627); (2) The unit is eligible (see §982.628); and (3) The family has satisfactorily completed the PHA program of required pre-assistance homeownership counseling (see §982.630). (b) Additional PHA requirements. Unless otherwise provided in this part, the PHA may limit homeownership assistance to families or purposes defined by the PHA, and may prescribe additional requirements for commencement of homeownership assistance for a family. Any such limits or additional requirements must be described in the PHA administrative plan. (c) Environmental requirements. The PHA is responsible for complying with the authorities listed in §58.6 of this title requiring the purchaser to obtain and maintain flood insurance for units in special flood hazard areas, prohibiting assistance for acquiring units in the coastal barriers resource system, and requiring notification to the purchaser of units in airport runway clear zones and airfield clear zones.
Title 24: Housing and Urban Development
PART 982—SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM
Subpart M—Special Housing Types
Homeownership Option
§ 982.626 Homeownership option: Initial requirements.
